Turkish private sector’s loans from abroad rise further

Turkish private sector’s loans from abroad rise further

ANKARA – Anadolu Agency

The total amount of the Turkish privatesector’s outstanding long-term loans from abroad rose by $3.6 billion to reach at $225.1 billion as of April, the Central Bank stated on June 13.

The privatesector’s pending short-term loans from abroad also climbed to $20.1 billion, up $1.8 billion compared to the end of 2017.

By definition, short-term loans have an original maturity of one year or less, while long-term loans have an original maturity of more than one year.

The Central Bank said financial institutions constituted more than half of long-term loans, at 50.7 percent.

“In the same period, of the total short-term loans in the amount of $20.1 billion, 76 percent consists of liabilities of the financial institutions and 24.0 percent consists of liabilities of non-financial institutions,” the Bank added.

Regarding currency composition, 59 percent of the total long-term loans were U.S. dollar loans, 34.6 percent consisted of euros, 4.7 percent were in Turkish Liras and 1.7 percent were from other currencies, it said.

“And of the total short-term loans, 45.2 percent consists of dollars, 31.0 percent consists of euros, 23.7 percent consists of Turkish Liras and 0.1 percent consists of other currencies,” it said.

The Bank also noted that principal repayments for the next 12 months by the end of April amounted to $70.3 billion.

The Central Bank periodically releases data for the privatesector’s long and short-term loans from abroad by gathering details from credit based forms submitted by resident financial institutions and companies